Container Freight Rates This Week: Drewry WCI Hits a 15-Week High as Carriers Push New Surcharges

Weekly update | Logistics Wall Maritime Desk | 29 October 2026

Spot container rates rose again last week. Carriers are lining up more rate increases for 1-2 November, and surcharges still add a lot to the final bill on many lanes.

Rates this week: the numbers

Drewry's World Container Index (WCI) rose 2.2% to $4,585 per 40ft container in the week ending 22 October, its second straight weekly gain, driven by higher Asia-Europe rates. Container News reports this is the highest level in 15 weeks.

Source: Drewry via FreightWaves.

The Freightos Baltic Index also climbed, up 5% to $3,560.

Not every index agrees. The China Containerized Freight Index (CCFI) fell, and the NYSHEX Freight Index (NYFI) kept declining on Asia-Europe. The reason is methodology: NYFI is built from transactions on containers that have actually shipped, while Drewry's WCI assesses spot benchmarks. In practice, the rate you actually pay can differ from the headline index, so check against live quotes.

What's driving the market

1. The Hormuz crisis is still the main factor. Xeneta's chief analyst said Far East to US West Coast spot rates are still up 344% compared with before the Hormuz crisis on 28 February, and US East Coast rates are up 335%. The same analyst said on 2 October that the market has probably reached its post-Hormuz peak for 2026, although no collapse is in sight.

2. Capacity management. Carriers are using blank sailings to hold rates. Drewry's latest capacity data shows only two blank sailings announced for next week on the Transpacific, down from six this week, but eight on Asia-Europe, up from two. That means more space across the Pacific but tighter supply on Asia-Europe.

3. Diverging trades. Xeneta's data shows Far East to North Europe and the Mediterranean peaked in early July and have been falling since. Drewry's recent Asia-Europe gains are a rebound from lower levels. The Transpacific remains far more expensive.

4. Rerouting. Carriers have kept ships off the Red Sea route. Hapag-Lloyd and Maersk reverted to Cape of Good Hope routing, which adds 7-14 days to transit times. Suez-linked transits remain a risk for shippers, so plan for longer transit times and less reliable schedules.

Carrier surcharges to watch

Base freight is only part of the cost. These are the surcharges currently in play:

CMA CGM Rate Restoration Initiatives (RRIs)

• Effective 1 November 2026, CMA CGM will apply an RRI on cargo from Türkiye and other Mediterranean-region ports to the US East Coast. The amounts are $750 per 20ft and $1,500 per 40ft from Türkiye, and $500 per 20ft and $1,000 per 40ft from the other listed origins, covering tariff and service contract rates (all cargo except OOG).

• A separate RRI of $300 per TEU applies between Oceania and the Americas from 2 November 2026, in both directions.

Fuel surcharges

• CMA CGM's Emergency Fuel Surcharge of $65 to $165 per container has applied on all global trade lanes since 1 August 2026, linked to renewed Hormuz escalation. The carrier says it will remain in place until further notice.

• Maersk's global Emergency Bunker Surcharge, introduced on 25 March, is reviewed every 14 days.

War risk and conflict surcharges (Gulf and Red Sea-linked cargo)

• The original March announcements set the benchmark: Hapag-Lloyd at $1,500 per TEU, and CMA CGM at $2,000 (20ft) / $3,000 (40ft) for dry containers. Carriers have revised these since, so confirm current levels on each carrier's advisory page before quoting a customer.

What shippers and forwarders should do

1. Lock in space and allocations early. Carriers can blank sailings, cut allocations or roll containers, so confirm November allocations now and agree backup options.

2. Check surcharge effective dates by booking or loading date. Several increases start on 1-2 November. Compare quotes on an all-in basis, not base rate alone.

3. Read your contract carefully. RRIs apply to service contract rates as well as tariff rates, so contracted cargo is not automatically protected.

4. Budget for longer transit times on any route affected by the Cape diversion.

5. Use more than one benchmark (Drewry, Freightos, Xeneta, SCFI), because the indices don't always move together.

Outlook

Drewry expects Transpacific rates to stay stable next week, with strong US import demand continuing to support the market despite more available capacity. Xeneta's view is that rates have probably peaked, but with Hormuz unresolved, a sharp fall looks unlikely in the near term.

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